NHPC signs agreement for implementation of resolution plan for Jalpower Corporation Ltd

NHPC Limited has signed Definitive Agreement on 13.01.2021 for implementation of the approved resolution Plan submitted by NHPC Limited for takeover of Jalpower Corporation Limited (JPCL), who was implementing 120 MW Rangit Stage-IV HE Project in Sikkim.

Hon'ble National Company Law Tribunal (NCLT), Hyderabad bench has approved the NHPC's resolution plan for taking over JPCL as going concern vide its order dated 24 .12.2020. NHPC will make upfront payment of Rs. 165 Crore for the resolution plan of JPCL.

Shares of NHPC LTD. was last trading in BSE at Rs.24.8 as compared to the previous close of Rs. 24.95. The total number of shares traded during the day was 843068 in over 2087 trades.

The stock hit an intraday high of Rs. 25.1 and intraday low of 24.65. The net turnover during the day was Rs. 20942375.

Source : Equity Bulls

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